DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH to provide USD 10 million long-term loan to Agrotop S.A. for expanding its cooking oil production in Chile

  • USD 10 million for new oil mill for Agrotop S.A.
  • Income for approx. 700 farmers
  • Contribution to rural development in southern Chile

COLOGNE, 30-11-2015 — /EuropaWire/ — DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, provides the Chilean agribusiness, Agrotop S.A. (Agrotop), with a long-term loan totalling USD 10 million for expanding its cooking oil production. Agrotop cultivates and processes oats, rapeseed and wheat through its four subsidiaries in southern Chile.

“Facilitating the sustainable growth of small and medium-sized enterprises is one of DEG’s strategic priority areas. We’re glad to support Agrotop on their path,” said Bruno Wenn, Chairman of DEG’s Management Board at the contract signing in Chile. “With DEG on hand, we’ve got a competent and experienced partner for developing our company,” emphasised Karina von Baer, Executive Director of Agrotop S.A.

Agrotop is utilising the loan to invest in a new state-of-the-art oil mill that will produce oil from rapeseed at their subsidiary Oleotop. The high quality oil will be delivered to, among others, local salmon farmers; the Chilean salmon sector being one of the country’s most important industries and a means of securing income from exports. Part of the production will be exported to Colombia as cooking oil. Feed for Chilean cattle livestock rearing will also be manufactured from the oil meal. Production should increase from between 80,000 and 140,000 tonnes annually thanks to the new mill.

Agrotop buys oilseed and grain by means of long-term supply agreements with farmers in southern Chile, where the main industry is agriculture. Advisory services available to the farmers throughout the entire cultivation period help to improve the quality of the products and harvest yields. One such measure is an annual crop rotation between rapeseed, wheat and oats. The company provides farmers with high quality seeds, fertilisers and pesticides and, if necessary, provides financing up front. Agrotop’s activities will secure the income of around 700 farming families and thus contribute to regional development.

The agreement was signed on 21 November 2015 prior to Hannelore Kraft, Minister President of North Rhine-Westfalia visiting Latin America accompanied by Chairman of the Management Board of DEG, Bruno Wenn. DEG has been operating in Latin America for over 40 years and has its own representative offices in Mexico, Brazil and Peru.

Contact

DEG Press Office
Barbara Schrahe-Timera

Phone
+49 (0) 221 4986-1855
Fax +49 (0) 221 4986-1843
eMail presse@deginvest.de

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